Is the Cayman Islands financial action task force (FATF) compliant? This probably ranks as the most popular question asked when a foreign counterparty is considering establishing a business in, or transacting with an entity established in, the Cayman Islands.
Those who are familiar with the FATF recommendations know that a jurisdiction has yet to be technically 100% compliant with all of the ’40+9′ anti-money laundering (AML) and combating of terrorist financing (CTF) recommendations. However, if the third round of FATF assessments is anything to go by, the Cayman Islands can quite fairly say that it has achieved a higher rating than most onshore, and all other offshore centres, reviewed so far.
